$Tesla (TSLA.US)$ tesla is now starting to look very weak an...
$Tesla(TSLA.US$ tesla is now starting to look very weak and seems more likely to break the 978 support instead of continuing the consolidation. Buying pressure Is getting weaker and selling pressure getting stronger.
Looking at the daily chart. We go down on increasing volume and when we have multiple green days, we go up on decreasing volume. This are signs of bearishness.
If you are looking to average in on the stock, being patient here is the key as better prices might be on its way soon.
However you still have to see the next touch on the 978 support if it holds and rebounds tesla off again. Because as long the 978 support holds, the consolidation is intact and you still can't say it will go down to close the bottom 2 gaps for sure.
As always, trade safe & invest wise!
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sloky : Is the market still down? Seems like prices across are still coming down. What’s your thought on $Lucid Group (LCID.US)$? They recently got subpoenaed by SEC
Investing 101OP sloky: Lucid is near critical support of 32. Likely dragged down due to the mother of EV tesla also going down. Market is now very volatile as the indexes are being carried by the few large cap companies. It is now in very dangerous territory as once those large caps start selling off the market will experience a large scale correction
sloky Investing 101OP: EV bubble gonna burst? That’s sooner than expected though
Investing 101OP : Not really bubble popping. But more of large caps are carrying the indexes now. Small and mid caps not doing as well. So if large caps start selling off, the indexes will fall way more than what you recently saw
sloky Investing 101OP: Was there something that triggered this? Means it may take awhile before all these prices come back up to the higher highs then?